Daily chart: the pair almost reached Bollinger’s top lane (110.40), and will likely get another turn down. This is indicated by the long sidewall within the Bollinger envelopes, and the extremely passive ADX.
N4: local bullish potential remains, but the market has signs of overbought. The resistance in the 110.40 zone looks very powerful here, which also speaks in favor of turning down.
N1 : extreme pressure on the hour chart makes you think about growth above 110.40. But, based on the state of the daytime timeframe, we risk assuming that the bulls will not be able to gain a foothold above this zone.
Conclusions: turn down from 110.40.
Trading solutions : sales from the 110.40 area.
Do not delay your profit for tomorrow – start building up capital with an investment portfolio from FreshForex today!
The advantages of portfolio trading can be listed indefinitely, and the results of our traders speak for themselves: over the past year, customers have used FreshForex 8 investment portfolios, the total yield on which amounted to 104.8% per annum!
2 steps to get an investment portfolio:
1. Add $90 or more to your merchant account by September 30th.
2. Mail [email protected] the account number you have completed.
You will receive a PDF briefcase by mail as soon as the application is processed.